How to Turn Your Brand’s Facebook into a Marketing Goldmine

This bundle includes everything you need to grow your business through the world’s largest social network.
January 9, 2020 2 min read
Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

Facebook is one of the most important ad platforms in the world today. With more than 2.4 billion monthly active users, Facebook’s community is a near-infinite fountain for marketers. Of course, you still have to know how to reach, engage with, and convert new audiences into valuable buyers of your goods or services. Not sure where to start? The Ultimate Facebook Marketing Certification Bundle can help you out.

With seven courses and 30 hours of training, this extensive bundle will help you learn the basics of Facebook marketing and how to promote your brand, regardless of your business size. You’ll learn how to use the Facebook Pixel and utilize retargeting to reach as many people on Facebook and Instagram with your ads as possible. You’ll understand how to create effortless sales funnels and how to write compelling ad copy that will get people to click on your ads and grow your business. You’ll even get a crash course in using live streaming through Facebook Video and Instagram Live to market your offerings.

It’s a comprehensive plan for building your business through social media. Sold separately, these courses would cost $1,400 but you can get them all in The Ultimate Facebook Marketing Certification Bundle for just $29.

This Facebook Ads Strategist Answers the 3 Commonly Asked Questions

I sat down with Chris Chung of Locate 852 to learn about ad strategy on the popular social media platform.
September 30, 2019 5 min read
Opinions expressed by Entrepreneur contributors are their own.

Most marketers today understand that social media advertising is a critical component of the marketing mix, but sites like Facebook and Instagram can be intimidating for individuals who aren’t especially social media savvy. In order to get a clearer picture of optimal social media ad strategy, I reached out to Chris Chung to get his insights on some of the most common questions that get asked about advertising on Facebook.

1. How much should you spend on Facebook ads?

This question comes up often but people tend to overthink it, according to Chung. He suggests that three better questions to ask are:

  1. How much is each customer or lead worth to you? Here is a simple formula you can use to calculate the value of a single customer/lead during the first 30 days: (Total 30-Day Revenue) / (Total # of Customers or Leads) = 30-Day Value
  2. How much of that 30-day value are you willing to spend on acquiring a single customer or lead? Are you willing to spend 25 percent? 50 percent? 75 percent? Or are you willing to spend the full 100 percent knowing that they will buy again in the near future?
  3. Is your golden number realistic?

Once you calculate the 30-day value and determine the percentage you are willing to spend on acquisition, you then have to research whether the number is realistic. If the industry standard is $20 to acquire a customer per lead and you can only afford to pay $15, Facebook ads might not be your best choice. Alternatively, you might want to see if you are able to increase the value of the customer by changing your offer.

Remember that Facebook is a bidding platform, so whoever pays the most will win the bid. Using the same example, if the industry standard is $20 and you are willing to invest $40 on acquisition and still be profitable, you should note down $40 as your golden number and use it as a benchmark for all your ads.

Related: The Facebook Ads Strategy That Can’t Lose

2. How do you know when to stop your ads?

Once you have your golden number figured out, this part is simple. If the cost per customer/lead is higher than your golden number, you stop the ad. Conversely, if it is equal or lower to the golden number, you should smile, knowing that it is going well and continue to test to see if it can be lowered further.

Chung advises all of his clients to look at the past 3-, 5- and 7-day trends when determining whether to make any changes. If the cost rises above your golden number on only one day out of the past seven, it might just be a bad day. Don’t make the mistake of judging the metric too quickly without enough data and stopping the ads prematurely. Know that Facebook takes one to three days for the ads to start working and level out.

You can set the daily budget to two to five times what the golden number is, but the key thing to remember is that just because you set a high daily budget doesn’t mean that you have to spend it all. It is an indication of how much you are willing to spend, and you can always turn off ads at any given moment.

3. Who do you target when placing ads?

Targeting is a controversial topic in the world of Facebook ads, because some believe that the more layers you choose, the more accurate the targeting. Others would say that not only does it increase the cost, but it makes it difficult to identify where the conversions are coming from. This makes your job as an advertiser more difficult.

What I learned from my conversation with Chung is that I need to ask myself three questions and let the answers determine the targeting for me.

  1. Who already has my ideal clients? Your ideal clients are already on Facebook, so ask yourself what individuals would they already be following?
  2. What do they already buy? Identify the purchasing behaviors of your ideal clients. Do they drive a Toyota or Ferrari? Do they shop at Whole Foods or the local supermarket? Pay attention to consumer behavior to identify whether the audience will resonate with your offer.
  3. Where do they often go? What physical locations would your ideal clients be found? Is it at a sports stadium? Yoga studio? Walmart? If you had to physically go somewhere and bump into this crowd, what place do you think they will most likely be found?

Make a list of your answers for all three questions and arrange them from most likely to least likely to convert. The only thing left is to start testing them to see what works. When Chung places cold traffic ads, he tends to stay away from stacking any interests to be in control of as many factors as possible. By limiting the interests to one interest per ad, for example, you can have a clear indication of which audience converts the best.

Related: 5 Reasons Why You Should Still Be Advertising on Facebook

Conclusion

Taking the plunge into social media advertisement isn’t too daunting when you understand some of the basic metrics behind lead generation, as well as the need to test ads before making major commitments.

4 Reasons Amazon Ads Are Better For E-Commerce Than Facebook

Put your money where your online retailer is.
August 14, 2019 5 min read
Opinions expressed by Entrepreneur contributors are their own.

While Facebook has become one of the world’s largest platforms for e-commerce marketing, this doesn’t mean that it’s necessarily the best pick for your advertising dollars. Yes, Pew Research’s latest data reveals that 69 percent of adults in the United States use Facebook, but the vast majority aren’t going there to discover new products and services. To many, Facebook ads are actually an intrusion that takes time away from checking in with family or sharing the latest cat memes. Worse still, even with Facebook’s audience-targeting metrics, many users are exposed to ads that are completely irrelevant to their interests.

On the other hand, when someone visits Amazon, they are specifically going there to shop. Broadly speaking, this is why investing in Amazon ads could be one of the most important things you do to grow your e-commerce brand, but ere are four reasons that make an even more targeted case.

1. There’s an audience that’s ready to buy.

According to a 2018 NPR/Marist poll, 44 percent of online shoppers begin their product search on Amazon, even greater than the 33 percent who start with a search engine like Google. Amazon shoppers are also far more likely to have purchased products online than those who use other platforms. For example, data from the same survey found that 72 percent of Amazon shoppers had purchased electronics online, in comparison to 48 percent of all American adults.

With ads on Amazon, you aren’t just building awareness that may or may not influence a future purchase. You are getting a key placement at a time when users are ready to buy, greatly increasing your chances of making a sale.

Related: 5 Amazon Ad Settings You Shouldn’t Ignore

2. You’ll improve organic listing rankings on Amazon.

For organic Amazon listings, sales volume plays a significant role in how products show up in search results. The better your product sells, the higher it will be placed when someone types in a relevant search query on Amazon. This has proved especially helpful for e-commerce brands like baby-product site Mushie. Levi Feignenson, the company’s co-founder and CEO, explained via email that for them, Amazon ads “were essential for us to get our initial customers to buy our products. As those first customers bought our items and left reviews, it helped increase our organic search rankings as well, which naturally led to more sales. Over time, it’s had a kind of snowball effect where the ads and improving organic rankings have helped us continue to bring in new customers.”

Facebook product ads don’t deliver this kind of boost to your online profile, while Amazon ads offer a direct benefit to your organic listings that will continue to pay off even after you conclude a campaign.

3. Amazon ads are considered more trustworthy.

One of the reasons behind Amazon’s success is the option for customers to leave reviews of products they’ve purchased. These reviews are extremely influential, with data published by Qualtrics reporting that 82 percent of customers check online reviews before buying. One of the more popular types of Amazon advertisements options is its Sponsored Product ads, which display your product listing as part of a user’s search results. These ads look just like a typical Amazon listing, complete with a star rating. If you’ve already gained positive reviews, this makes users much more likely to click on your sponsored post.

While you can mention review information in Facebook e-commerce ads, your audience won’t necessarily believe the testimonials because they are included as part of your ad copy. Because Amazon’s reviews come from actual customers, potential buyers are much more likely to believe claims of quality.

Related: The Secret to Making Facebook Ads Work For Your Business

4. There are a variety of ad types to experiment with.

While a Sponsored Product ad is an undeniably attractive option, this is far from the only way you can advertise on Amazon. Sponsored Brands ads (formerly known as headline ads) typically appear above or below the search results, advertising your brand or a few of your latest products. These ads can take buyers to a custom landing page, where they can view several of your products and gain greater exposure to your business as a whole. Product Display ads are another unique option. Rather than appearing in the initial search listing, they materialize on customer review pages or as a “related product” suggestion. With these ads, you can actually earn revenue that might have otherwise gone to one of your competitors.

Testing the various ad options available through Amazon can help your e-commerce brand find the perfect mix for increasing sales. Even more importantly, because you are bidding on keywords rather than audience metrics, you can have greater confidence that your ads will appear before relevant users.

While Facebook can be a great platform to raise awareness for your brand, this doesn’t always lead to sales. When you advertise on Amazon, you’ll be better positioned to reach customers who are ready and willing to buy your product. By using high-quality, compelling images of your products and bidding on the right keywords, you further increase your appeal with customers who are far more likely to engage.

To Make More Money Online, You Must Diversify From Google AdWords and Facebook Ads (or Pay the Price)

Your customers aren’t all on one platform, so neither should your digital ads.
June 27, 2019 6 min read
Opinions expressed by Entrepreneur contributors are their own.

Do you rely on one client for all of your business? Every business worth its salt knows the value of diversification when it comes to making money. It’s a lesson that’s drummed in early and often, often by hard experience.

But diversification doesn’t just apply to variety in your clients. It also applies to your marketing. Being too reliant on one channel will kill your business if that company decides to make a change.

Don’t believe it? Just ask online publisher LittleThings, which sank after riding out several Facebook algorithm changes. Seventy-five percent of their organic reach dried up, per their comments to Business Insider. and their business model died.

Your ad platforms are the same. If you’ve invested all your money and resources into AdWords, for example, and your CPCs begin to get unsustainably high, it takes time to pivot from one platform to another. Why lock yourself in?

The advertising world is changing.

No matter what business you’re in, your audience isn’t just going to be in one place. You might have a higher proportion of customers that you can reach with one ad network or one social network, but you never want to limit yourself.

Social media ad spend was predicted to catch up with newspaper ad revenue in 2019, per a Zenith report — and that was all the way back in 2016. Digital advertising crosses multiple channels, and though social media advertising is important, the more traditional networks haven’t disappeared.

Native advertising is also seeing a significant boost — native simply meaning it looks like part of the publisher’s site instead of loading separately like traditional banners and other advertising that have been hammered by ad blockers.

One report from Business Insider Intelligence notes that native advertising revenue is expected to grow past $36 billion by 2021. From in-line display ads to sponsored posts to boosted tweets, native is one format that’s already growing.

Meanwhile, traditional ad platforms are starting to slow down. TV ads are still strong and still growing slightly, but compared to the growth rates of social platforms they’re not the same. Ad revenues for the world are only expected to grow slightly over the course of the next few years, per a Statista report — less than $20 billion in growth by 2022.

Related: Use This Google AdWords Hack to Lower Costs and Increase Leads

The Outlook report from PwC Global notes that internet advertising is now a $30 billion larger market in the United States than TV, with a growth rate that far outpaces it. Consumer magazine advertising and newspaper advertising are not just flat — they’re in decline.

If you put all your eggs in the basket of traditional channels, you’re probably already having trouble. Digital advertising is the wave of the future — but which channel?

Surviving and making more money online involves trying different things.

John Crestani of Pendragon Labs Marketing does a ton of work with different ad platforms and affiliate marketing. According to him, you don’t necessarily know what’s going to work or which platform is going to be best, though you might have some idea.

As he noted in one of his blog posts, “Here’s an example of one of my [Facebook] ads, which was for a bedbug product … I showed a picture of bedbug bites and I simply wrote ‘Massive Bedbug Epidemic. See how to avoid being attacked.’ I immediately got 4,000 shares on it. This ad went viral; it made me a ton of money.”

That’s one of the biggest takeaways from digital advertising these days: doing studies and focus groups and figuring out where your audience is are important, but at the end of the day sometimes you’re just going to get surprised.

Related: How Bots Steal Your Online Advertising Budget

Not just in terms of ad copy either. Marketers and advertisers get things wrong all the time. Back in the day, some people thought Google+ was going to be huge, and some people thought Instagram was overvalued. Smart people — very smart, well-informed people — screw up predictions all the time on which channels are going to matter five or ten years from now, or what campaigns are going to be the best or most important. That’s why the smartest marketers don’t put all their eggs in one basket.

The 80/20 rule always wins out.

“I’m honestly more worried about those who are starting to win on platforms like LinkedIn or Instagram because that’s when they start to get complacent,” says entrepreneur and social media guru Gary Vaynerchuk on his blog.

“They start to put ‘what’s working’ on a pedestal and start romanticizing it — just like bigger businesses put channels like billboards or television commercials on a pedestal even though they don’t work nearly as well anymore.”

Vaynerchuk has consistently had a large audience across multiple platforms, and his secret is simple: he devotes 80 percent of his attention to the most effective platform right now and 20 percent to the other platforms.

Related: The Secret to Making Facebook Ads Work for Your Business

You’re constantly going to see the most effective avenue switching between platforms. What works now isn’t necessarily going to work in the future. But if you’re keeping a finger in multiple pies, you’re ready to move when one of them pops and your current best platform starts to tail off.

Just like in any other avenue of your business, if you’re relying too much on one advertising channel, you’re opening yourself up to far more risk than you should. Diversify your online ad platforms. If you don’t, the market may do it for you. Better to be prepared.